PUTRAJAYA: The country’s average Gross Domestic Product (GDP) is set to rake RM13bil a year with the implementation of the Low Carbon Aspiration 2040 initiative, says the Prime Minister.

Datuk Seri Ismail Sabri Yaakob said this initiative under the National Energy Policy is also expected to create 207,000 new employment opportunities.

He said the target was expected to be achieved by putting in place several initiatives, such as encouraging mode sharing for public transport of up to 50%.

“We will also boost the use of electric vehicles by 37% as well as increase the usage of alternative fuel for heavy vehicles with B30 biodiesel,” he said at the launch of the National Energy Policy 2022-2040.

The Prime Minister said the government would also increase the use of liquefied natural gas (LNG) as alternative fuel for marine transport by 25%.

The initiative would also see better energy efficiency for industry and commercial use by 11% and 10% for residential.

“The energy sector is set to open a new chapter which will see the emergence of new sectors, such as low carbon mobility through the use of EV, as well as the generation of renewable energy such as hydrogen and bio-based energy,” he added.

The Prime Minister said the National Energy Policy is the government's commitment to providing new opportunities for Malaysians.

It will also pave the way for the energy sector to be the main catalyst for socioeconomic sustainability for the well-being of the people, he added.

Ismail Sabri said the government would also set up an EV task force to detail out strategies for its development and local promotion.

“To spur the development of hydrogen, the government will have a plan in place, encompassing efforts to boost participation of industry players, research and development and the use of related products and technologies,” he said.